Digital transformation

Foreign tourists mainly were technical experts and skilled workers who are allowed to enter Vietnam to work, and truck drivers transporting goods through international border gates. In the first two months, the country welcomed 28,700 foreign visitors, a year-on-year decrease of 99.1 percent. According to the report, HCMC saw a decline of 14.1 percent, Ba Ria-Vung Tau Province and Da Nang City decreased 15.9 and 16.1 percent, Hanoi and Hai Duong slid 7.6 and 7.8 percent compared with last year. Tourism revenue fell 62.1 percent over the same period last year to VND2,500 billion (US$108.6 million). The most severe drops were seen in Hanoi at 47.7 percent, Da Nang by 67.7 percent, HCMC by 69.2 percent, Thua Thien-Hue Province by 73.3 percent and Hai Duong Province by 89.4. The tourism industry has proposed many preferential policies to support travel firms and laborers that have been severely affected by the Covid-19. However, there was not much support and many businesses could not receive these preferential treatments. A further decline is expected in the coming months, said the Vietnam National Administration of Tourism (VNAT). At the present, more than 500 enterprises that can not continue their operations have proposed for the withdrawal of the certificate of business registration. In addition, 90-95 percent of travel agencies have stopped operating as a result of the crisis. The tourism sector must spend 5-7 years to recover the workforce. A large number of laborers in the hospitality industry have to move for a new job. Deputy Minister of Culture, Sports and Tourism Nguyen Van Hung said that the tourism industry needs to develop key solutions and long-term plan until the next five years, such as putting the Support Fund into operation, restructuring the tourism industry, building tourist products and smart ecotourism system, implementing digital transformation in boosting Vietnamese tourism. He asked the VNAT to coordinate with Ninh Binh …

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Võ Trí Thành *Võ Trí Thành Việt Nam has outlined its next-decade of socio-development strategy, setting its sights on becoming a developed and upper-middle-income country with modern industry by 2030. However, as success in the past cannot guarantee future triumphs, what are the keys to Việt Nam’s success in the next period? We have talked about Việt Nam’s aspirations to become the next Asian economic dragon and the country has made great strides towards its goals. Amid a volatile world and unprecedented challenges arising from the pandemic, Việt Nam’s success in response to COVID-19 has been praised by international media. To ensure long-term growth, the country is also seeking solutions to key issues such as structural reforms, sustainable and inclusive development and innovation. After many phases of reforms, Việt Nam has basically achieved its goals such as ensuring macroeconomic stabilisation, expanding more opportunities for all economic subjects to develop through institutional reforms, building a socialist market-oriented economy and promoting international integration. Along with that, national capacity has been significantly improved which has been seen in strengthened institutional capacity, reflected in the more efficient State apparatus, enhanced capacity of enterprises through their greater competitiveness and sustainable development strategy and lastly the better-quality human resources. Despite the fast-changing world, lessons and experiences from past reforms have significant value for further success which can be seen in many Vietnamese success stories. When talking about the building of a socialist market-oriented economy, from a centrally planned economy in the early 1980s with little knowledge about the market economy, this has become the red thread throughout the country’s reform process. Việt Nam has learnt and built regulations and good practices for the market through working experience and co-operation with well-known …

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Bangkok (VNA) – Thailand’s National Economic and Social Development Council ( NESDC ) has approved a framework for the country's 13th national economic and social development plan , spanning from 2022 to 2026, with the focus placed on high value-added economic development. The next national economic and social development plan should aim to provide Thailand a high value-added economy , according to the state planning unit. This is an appropriate time for Thailand to restructure the manufacturing sector to focus more on high value-added activities, said Danucha Pichayanan, Secretary-General of the NESDC. A high value-added economy focuses on those activities that generate a large margin between the final price of a product or service and the cost of the inputs used to produce it, thus creating higher profits for businesses and higher wages for workers. He said under the 13th national plan, Thailand's development will focus mainly on four areas over the next five years. The first area is to restructure the industrial sector towards higher technology. Danucha said companies listed on the Stock Exchange of Thailand are still engaged in conventional industries, in contrast to those listed on the Dow Jones Industrial Average, which contains high-technology companies. Thailand needs to transform the manufacturing sector to higher value-added industry and high technology such as the bio-, circular, green economy, which can increase the value of farm products; electric vehicles, which can create supporting industries including smart electrical parts and a smart grid; and an emphasis on the medical industry, tourism, logistics and digital services, he said. Danucha said Thailand should no longer focus on a high volume of foreign visitors, instead attempting to attract high-quality foreign visitors with relatively high spending. The second area of the new plan is to build opportunity for Thais to have more security in their life, both in terms of …

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